Thursday, October 18, 2018

"Loose lip sink ships"!



 cuts to entitlement programs are necessary due to rising federal deficits.
A slip of the lip can sink ships!
Did Mitch McConnell just cut Bill Nelson a huge break 
by foreshadowing Medicare cuts?

The Senate Majority leader said changes to entitlements are on the horizon
 to cut deficits on the rise since Trump's tax cut.
ST. PETERSBURG
 Sen. Bill Nelson thinks the top Republican in the U.S. Senate revealed something
 so politically fraught to Floridians,
 he might as well have just donated to his reelection campaign.
Majority Leader Mitch McConnell said this week that cuts to entitlement programs 
Washington-speak for Medicare, Medicaid and Social Security 
are necessary due to rising federal deficits.
"It's a bipartisan problem:
 unwillingness to address the real drivers of the debt by doing anything to adjust those programs to the demographics of America in the future," the Kentucky Republican
Nelson doesn't expect that will go over well in Florida,
 home to 1.9 million Medicare recipients 
and 
where nearly one-in-five residents retirement age or older.
"Mitch McConnell made a big mistake yesterday: 
he gave away his real intentions,"
 Nelson said Wednesday.
 "You let the seniors of this state know the Majority Leader
 is thinking about cutting Social Security and Medicare,
 they're not going to be too happy."
Nelson is facing Gov. Rick Scott in one of the country's most anticipated Senate races.
McConnell was responding to a Treasury Department report that
The Treasury estimated that the deficit would grow again next year and exceed $1 trillion by 2020 
A main driver of the rising deficits is the massive tax cut that President Donald Trump and Republicans pushed through Congress last year.
The new tax law lowered income taxes for most Americans and slashed the corporate tax rate from 35 percent to just 21 percent, the largest one-time rate cut in U.S. history for the nation's largest companies.
Trump promised the tax cut would pay for itself, but while the economy continues to see healthy growth and fewer unemployed Americans, that hasn't been the case.
 Instead, government economists say 
the new tax system is driving up the deficit with much more pace.